GBPUSD approaching resistance, potential drop!

GBPUSD is approaching our first resistance at 1.4097 (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 1.4013 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement).

RSI (55) is also testing its major descending resistance line and a reaction off this level might be a good precursor of a potential drop in price.

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